Car from employer GST, Goods and Services Tax - GST

I have taken a car through my company on lease, company provided to me by taking from another financial company and at the time of separation , i have to purchase the same. what will be GST obligation.

If thecar is a business asset in the books of the employer and employer claimed depreciation for income tax assessments then the taxable value for such used car shall be “ the difference between the depreciated value as onthe date of sale and actual sale value realised from buyer. If if the difference is positive GST 18% or 12% ( see Notifications Jan 2018) is payable on the difference. If the difference is negative you may ignore.

However the higher purchase agreement is to be seen for conditions if any to decide sale of new car or used car